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Monday, February 15, 2021

Try Solving with Optimization

With all the talk about AI in the air, some of the other fundamental methods are being forgotten.   I spent most of my career using and teaching direct optimization methods in the enterprise.   Below a quick overview.   I am not particularly recommending this particular company, but they did a good job presenting the description.  Consider optimization .... it can be be better, easier to use and more direct than AI for the right applications.  It often uses less data.  It is often used for very complex models.   Every decision problem solver should have it in their capabilities.   As a manager I always ask, have we tried an optimization?   Have said it here many times, here it is again. 

What Must I Do to Use a Solver?

To use a solver, you must build a model of your decision problem that specifies:

The decisions to be made, called decision variables,

The measure to optimize, called the objective,

Any logical restrictions on potential solutions, called constraints.

The solver will find values for the decision variables that satisfy the constraints while optimizing (maximizing or minimizing) the objective. ...  " 

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